Liz Truss is in trouble because she just stepped in and tried to do the conservative playbook. Cut taxes, ignore spending. The problem is that neither the progressive playbook nor the conservative playbook are going to work in this environment. You're gonna need austerity, tax increases and spending cuts.
Nobody is going to be happy, but the budget must be balanced because credit is finite again. You actually need to convince someone to buy the debt, and nobody is going to accept unlimited debt purchases at rates under inflation.
Many countries in the past have discovered this, but the UK is just one of the first and won't by far be the last.
Nobody is going to be happy, but the budget must be balanced because credit is finite again. You actually need to convince someone to buy the debt, and nobody is going to accept unlimited debt purchases at rates under inflation.
Many countries in the past have discovered this, but the UK is just one of the first and won't by far be the last.
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"I uh found 17 trillion dollars in redundancies" - Actually increases spending by 1 trillion
God damnit elon...
God damnit elon...
I suspect that if the government was no longer sticking its fingers everywhere, a lot of very rich people would very quickly find themselves destitute. None of them have ever had to run a business where they weren't being chosen as a winner because of their connections to the largest and most powerful state in the history of the world.
It's so ingrained into the systems of the moment, we're both writing this on a global network built almost exclusively on government money.
It's so ingrained into the systems of the moment, we're both writing this on a global network built almost exclusively on government money.